Westwood Holdings Group Inc. raised its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 15.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,581 shares of the real estate investment trust's stock after purchasing an additional 3,006 shares during the quarter. Westwood Holdings Group Inc.'s holdings in American Tower were worth $4,142,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower during the fourth quarter valued at about $29,000. Roxbury Financial LLC bought a new stake in American Tower in the fourth quarter valued at $32,000. Graney & King LLC bought a new position in American Tower in the fourth quarter worth approximately $32,000. Crowley Wealth Management Inc. bought a new position in shares of American Tower in the 4th quarter worth $37,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of American Tower during the fourth quarter valued at about $46,000. Institutional investors own 92.69% of the company's stock.
American Tower Stock Up 0.8%
Shares of American Tower stock traded up $1.62 during trading hours on Friday, reaching $211.89. 1,573,144 shares of the company were exchanged, compared to its average volume of 2,511,177. The stock's fifty day moving average is $215.27 and its 200 day moving average is $201.66. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $99.19 billion, a PE ratio of 89.41, a PEG ratio of 1.29 and a beta of 0.86. American Tower Co. has a 1 year low of $172.51 and a 1 year high of $243.56.
American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm's revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.79 earnings per share. As a group, equities research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.
American Tower Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be given a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.21%. American Tower's dividend payout ratio is currently 174.81%.
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. Barclays boosted their price target on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Royal Bank of Canada increased their price objective on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. BMO Capital Markets increased their target price on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Hsbc Global Res raised American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Finally, Bank of America began coverage on American Tower in a research report on Monday. They set a "buy" rating and a $255.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, American Tower presently has an average rating of "Buy" and a consensus price target of $240.25.
Read Our Latest Analysis on AMT
About American Tower
(
Free Report)
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
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